Michael Covel speaks with Larry Tentarelli. Tentarelli is a self-made trend following trader and he returns for his third visit to the podcast. Covel and Tentarelli discuss Michael Lewis, high frequency trading, and if the market is “rigged”; trend following track records; day trading; why you can’t get rich overnight in the markets, but you can go broke; why price is the reality, and everything else is just a fantasy; the efficiency of only looking at price; Warren Buffett and the secret to his success; why trend following is straightforward and simple compared to day trading and fundamentals; why having a high winning percentage is not the prime focus in trend following; Soros, his positions, and why he might be a trend following trader; reactive vs. predictive technical analysis; the similarities between predictive technical analysis and fundamental analysis; why psychology is integral to trend following’s success; Van Tharp and why winning is based on 60% trader psychology, 30% money management, and 10% the parameters of what you’re trading; divorcing the price on the chart from your geopolitical thinking; “trader’s highs” and emotional issues that are played out in the market; the difference between being “right” and making money; why people say that trend following doesn’t work on equities, and why that is 100% false; getting preoccupied with the instrument rather than what markets really consist of; and quality of life in trend following vs. other trading styles. Larry Tentarelli can be found on Twitter at @SystemsTrader95. Want a free trend following DVD? Go to trendfollowing.com/win.